prestige

The Prestige

Recently, I've become inundated with questions/concerns regarding prestige from recent grads working without banking offers and analysts that have been laid off but still lined up jobs. I've also seen a few posts on WSO with people letting off steam regarding prestige and working in ops.

This is my reply to anyone in their shoes. Anyone who has an offer to work in ops, corp fin, boutique banking, audit or Chinese gold farming.

Being employed is more prestigious than being unemployed.

Exit ops? Bust your ass and earn your 55-70K a year. Money in the bank should be your concern.

I'm getting sick of this chat on who is more prestigious than who...

This prestige and rank the bank nonsense is total bullshit. As anyone in the industry knows - its what you do and who you are that makes it important not which instituition you work for.

Prestige only counts when you are talking to uninformed people who do not work in the industry - and they would think someone at the mail room at goldman sachs is more prestigious than an M&A banker at Citi ((but then again they could actually think citi is more prestigious as they would have a higher chance of recognising the brand)

the only relevant comparison is between tiers. but then again, who compares "prestige" between tiers. get a life the main game is

i. how much money you make
ii. what you have accomplished in your career

As the standalone bulge bracket investment bank becomes a thing of the past, what will be the affect on the prestige and position of the dominant middle market banks (Lazard, HL, etc.)?